The Urban Institute published an op-ed this week that proposes policy changes to the Home Equity Conversion Mortgage program to guarantee its long-term financial stability and to avoid … more Urban Institute Offers Solutions For Improving HECM Program
HUD
NRMLA Commenting On Appraisal Reconsideration Proposal
The Federal Housing Administration is seeking public feedback on a proposed policy change that’s intended to strengthen requirements for processing and documenting Reconsideration of Valuation (ROV) requests, especially … more NRMLA Commenting On Appraisal Reconsideration Proposal
FHA Publishes Updates to Housing Policy Handbook 4000.1
The Federal Housing Administration updated its Housing Policy Handbook 4000.1 this week and while most of the changes only impact FHA’s forward mortgage program, there are a few … more FHA Publishes Updates to Housing Policy Handbook 4000.1
HUD Establishes COVID-19 HECM Property Charge Repayment Plan
The Department of Housing and Urban Development established a new repayment plan option for HECM borrowers who continue to suffer financially from the impacts of the COVID-19 pandemic … more HUD Establishes COVID-19 HECM Property Charge Repayment Plan
FHA Extends HECM Loss Mitigation Waivers
To continue assisting HECM borrowers financially impacted by the COVID-19 pandemic, the Federal Housing Administration extended two partial waivers connected to its HECM loss mitigation policies through December … more FHA Extends HECM Loss Mitigation Waivers
FHA Rescinds the Mandatory Use Date for FHA Catalyst’s Electronic Appraisal Delivery Module
The Federal Housing Administration rescinded the mandatory use date for mortgagees to submit appraisals for single family Title II forward and reverse mortgage endorsements through the FHA Catalyst: … more FHA Rescinds the Mandatory Use Date for FHA Catalyst’s Electronic Appraisal Delivery Module
Final Rule Allows HECM Borrowers to Purchase Private Flood Insurance
The Department of Housing and Urban Development published a final rule today that gives homeowners who are applying for a government-insured loan, including a Home Equity Conversion Mortgage, on … more Final Rule Allows HECM Borrowers to Purchase Private Flood Insurance
Health of HECM Program Improves in FY2022
Buoyed by strong home price appreciation, the financial health of the Home Equity Conversion Mortgage portfolio dramatically improved in fiscal year 2022, ending September 30 with stand-alone capital … more Health of HECM Program Improves in FY2022
HUD Publishes Proposed Rule on LIBOR Transition
The U.S. Department of Housing and Urban Development published a proposed rule this week that would replace the London Interbank Offered Rate (LIBOR) with the Secured Overnight Financing Rate … more HUD Publishes Proposed Rule on LIBOR Transition
Helping Your Clients After a Natural Disaster
If you have clients in Puerto Rico or Florida, please consider sharing the Consumer Financial Protection Bureau’s consumer guide, Your Reverse Mortgage After a Natural Disaster. The resource guide … more Helping Your Clients After a Natural Disaster
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